The conference committee also approved amendments that would help encourage the move toward Extensible Business Reporting Language, or XBRL, financial reporting technology across the capital markets in the U.S. for regulatory reporting.
accountingweb SEC to require mandatory XBRL filing in 2009
Approximately 500 companies will be part of the first wave of companies required to submit their financial results electronically using XBRL, the eXtensible Business Reporting Language
The Accounting Flow Visualizer Byron Marshall, Kristian Mortenson, Amy Bourne, Kevin Price
Abstract: The usefulness of XBRL (eXtensible Business Reporting Language) in facilitating efficient data sharing is clear, but widespread use of XBRL also promises to support more effective analysis processes. This format should allow managers, investors, regulators, and students to aggregate, compare and analyze financial information. This study explores an XBRL-based visualization tool that maps the organization of financial statements captured in the XBRL formalism into a graphical representation that organizes, depicts, and animates financial data. We show that our tool integrates and presents profitability, liquidity, financing, and market value data in a manner recognizable to business students. Our findings suggest the promise of XBRL-based visualization tools both in helping students grasp basic accounting concepts and in facilitating financial analysis in general.
More than Half of Public Companies Still Have No Plans to Use XBRL Even After SEC Mandate
As of October 2009, XBRL usage among US companies has increased, but not in line with expectations given the SEC mandate. Some results of a national survey of US CFOs include:
Does your company currently report financial results using eXtensible Business Reporting Language (XBRL)?
This is an interesting site I found that is presented by EDGAR online. It is a public portal that focuses on getting you up to speed on interactive data and complying with the SEC’s new mandate that companies file financial statements in the XBRL format. The site gives access to XBRL-tagged financials from over 12,000 US filers. This site also contains a lot of useful information for people just getting acquainted with XBRL, and for those who want to learn more.
The U.S. SEC wants companies that file using U.S. Generally Accepted Accounting Principles and have a worldwide public float over $5 billion to provide XBRL-formatted financial statements — 10-Ks, 10-Qs, etc. — beginning with fiscal periods ending December 15, 2008. The remaining companies using U.S. GAAP will be phased into the XBRL program over the following two years. The following is article that discusses how companies can prepare for this. Preparing for the Mandate
XBRL US Invites Participation in Public Review of US GAAP Data Tags Release 2009http:www.marketwatch.com/news/story/XBRL-US-Invites-Participation-Public/story.aspx?guid=%7B075A233C-6229-4926-B317-CDEF0380432B%7D
UBmatrix Formalizes Developer Program Amid Strong Interest in Standardizing on XBRL
http://www.ubmatrix.com/news/pr_101608_b.htm UBmatrix, Inc., the leading provider of XBRL information exchange solutions, announced today that it is formalizing a Developer Program to give System Integrators and Independent Software Vendors (ISV) access to its XBRL software for use in their solutions and services. To read more of this article, click on the link above.
HOW CHINA MOVED SO QUICKLY
In part, China was able to move so quickly because companies didn’t actually switch to XBRL reporting. They continued to fill out the same forms they always used, while behind-the-scenes software translated line items into XBRL data. This method of implementing XBRL allowed China’s capital market to quickly adapt to the new information standard—with no cost of compliance for reporting companies.
News releases XBRL IFRS and XBRL Conversion Opens Door for Internal Auditors
Deloitte Selected By IIA To "Bridge The GAAP" By Offering IFRS And XBRL Training
Merrill Reports Complete will help companies concentrate on their core businesses, confident that they are compliant with Sarbanes-Oxley requirements and ready today to produce in the mandatory XBRL reporting format, which becomes effective Jan. 1, 2011.
SEC Mandates XBRL filing by end of 2008 for largest companies and phase in for remaining over 2 years:
http://xml.sys-con.com/node/1036763 Using Merrill Reports Complete// will help companies concentrate on their core businesses, confident that they are compliant with Sarbanes-Oxley requirements and ready today to produce in the mandatory XBRL reporting format, which becomes effective Jan. 1, 2011.
XBRL US Announces Annual Conference, XBRL Financial Reporting: Advancing Transparency, Transforming the Dialogue, in New York City November 17-18, 2009
XBRL US, the nonprofit consortium for XML business reporting, announced that it will hold its annual conference on November 17-18, 2009 at the Marriott Marquis in New York City with a focus on improving communication between public companies and investors through data and technology standards. "This conference comes at a time when hundreds of public companies have begun complying with an SEC mandate for XBRL reporting that starts this summer," said Taylor Hawes, CFO Intellectual Property & Licensing, Microsoft Corporation, and Chair, XBRL US Conference Advisory Committee. "This program will educate company representatives as well as investors and analysts on how to create and analyze XBRL data, the convergence of accounting standards, and most importantly, what lies ahead for public companies with XBRL data." http://sev.prnewswire.com/computer-electronics/20090622/NY3504122062009-1.html
The Securities and Exchange Commission (SEC) announced the release of the "Mutual Fund Reader," an online tool to analyze interactive data provided by mutual funds in electronic filings with the SEC. This tool is based on eXtensible Business Reporting Language (XBRL), a computer software language that labels companies' financial and other data so that investors and analysts can more easily find what they're looking for, and use the information for comparisons and analysis. Mutual Fund Reader provides information about specific mutual funds, including a fund's cost, risk, investment objectives, and historical performance.
AcSEC Meeting Minutes Published. The AICPA's Accounting Standards Executive Committee (AcSEC) has published minutes from its most recent meeting held on March 18-19, 2008. Items or topics discussed at the meeting include:
-Health Care Guide; -Property and Liability Insurance Guide; -FASB Preliminary Views, Financial Instruments with Characteristics of Equity; -Airline Guide; -Not-for-Profit Guide; -Casino Guide; and -Chair's Report.
XBRL and Banking: For anyone who works in banking like myself, these articles may prove interesting. I work at a small local bank that uses xml and xbrl for remote deposit. Instead of moving paper checks around, customers scan them and send a batch file to the bank. The batch file relies on xml code to transfer the correct financial information. Some of these articles are relatively old but it does show how xbrl has evolved over the past six years:
Merill Lynch Launches Web-Based Financial Reporting Solutions The following story references the new product launched by Merill Lynch which will help its mutual fund customers create financial documents in compliance with XBRL and Sarbanes-Oxley disclosures. http://xml.sys-con.com/node/1036763
Cloud-based corporate performance management service provider Host Analytics and Extensible Business Reporting Language software developer NeoClarus have released a free product to help first-time corporate XBRL filers comply with Securities and Exchange Commission regulations. This year, approximately 8,000 companies, many of them small businesses with few resources, are required by law to file XBRL formatted financials for the first time.
International XBRL News (May 2011)
The government of India hopes to improve surveillance of companies through the introduction of a new financial reporting format that will make data accessible to all regulators and watchdog companies.
View Article Here
XBRL Continues Global Expansion as Standard for Business Reporting Transparency and Process Improvement.
XBRL International has produced a number of case studies to describe how important organizations have made use of XBRL: http://www.xbrl.org/CaseStudies/
For anyone interested there are demos listed that show XBRL in action actually very interesting and helpful: http://www.xbrl.org/Demos/
66.This editorial deals with how to avoid costly mistakes when creating XBRL documents. It highlights many of the common errors that are prevalent when dealing with implementing XBRL. Some of the common errors include incorrect mapping and tagging. It also deals with using validation software, which can detect many of the mistakes made by the user. http://www.journalofaccountancy.com/Issues/2010/Feb/20092058.htm
67.I thought this article presented a fantastic discussion on the benefits of implementing XBRL and what it can provide from a business and data transferring perspective. The article also deals with simple tagging and using taxonomies when creating a XBRL document. http://www.silicon.com/management/ceo-essentials/2010/02/05/cheat-sheet-xbrl-39745428/3/
68.This is a link to an XBRL discussion forum that I thought was interesting and had a lot of detailed explanations concerning XBRL. Also most of the information that was posted on these boards was done by professionals actually working with the language in real life scenarios. http://www.xbrl.talk2experts.com/forums/
69.This is a link to a video that explained in detail why people actually use XBRL and how it affects businesses both domestic and international. The video explains the language in a simple and concise way that was both comical and informative. http://www.encyclopedia.com/video/5F1E-2LkhW8-xbrl-in-plain-english.aspx
70. GRI and Deloitte to Create XBRL Taxonomy; Alcoa, Shell Among G4 Sponsors - This is a link to an interesting article demonstrating the future of XBRL as it relates to some companies.
72. Here is a link to a short podcast talking about XBRL phase 3 implementaion for small companies. Inside Track with Broc
73. Here is a link to an article about some XBRL developments in India in 2011 XBRL Developments in India 2011
74. Here is a link to an article about an XBRL gadget that allows users to quickly analyze large amounts of company-reported data by the SIC code, across different periods, and using different concepts such as assets or revenues: XBRL Gadget and here is the link to the actual gadget site: The Gadget
83. Here is the editorial that was concerned with the SEC adopting of XBRL for financial reporting. The article discusses details of the adoption and exactly how it will affect businesses and shareholders. It has some strong insight on why exactly the SEC felt XBRL was best for financial reporting.. http://www.wsgr.com/wsgr/Display.aspx?SectionName=publications/PDFSearch/clientalert_XBRL.htm
http://www.kpmg.com/xbrl/XBRL_Home.asp
Best Practices Board publishes two White Papers
http://www.xbrl.org/BPBWhitePapers/
US GAAP and IFRS convergence on XBRL
The manual is available for download on the right-hand side of the page.
http://www.ifrs.org/XBRL/Resources/Global+filing+manual.htm
Another great article on XBRL, convergence, and its benefit to the accounting profession
http://www.calcpa.org/content/26185.aspx
Conference Committee Finalizes Financial Reform
The conference committee also approved amendments that would help encourage the move toward Extensible Business Reporting Language, or XBRL, financial reporting technology across the capital markets in the U.S. for regulatory reporting.The Financial Reform Bill is widely expected to pass the House and Senate and will encourage the use of XBRL.
http://www.webcpa.com/news/Conference-Committee-Finalizes-Financial-Reform-54755-1.html
accountingweb SEC to require mandatory XBRL filing in 2009
Approximately 500 companies will be part of the first wave of companies required to submit their financial results electronically using XBRL, the eXtensible Business Reporting Language
The Accounting Flow Visualizer Byron Marshall, Kristian Mortenson, Amy Bourne, Kevin Price
Abstract: The usefulness of XBRL (eXtensible Business Reporting Language) in facilitating efficient data sharing is clear, but widespread use of XBRL also promises to support more effective analysis processes. This format should allow managers, investors, regulators, and students to aggregate, compare and analyze financial information. This study explores an XBRL-based visualization tool that maps the organization of financial statements captured in the XBRL formalism into a graphical representation that organizes, depicts, and animates financial data. We show that our tool integrates and presents profitability, liquidity, financing, and market value data in a manner recognizable to business students. Our findings suggest the promise of XBRL-based visualization tools both in helping students grasp basic accounting concepts and in facilitating financial analysis in general.
Rivet Software Blog Post
More than Half of Public Companies Still Have No Plans to Use XBRL Even After SEC Mandate
As of October 2009, XBRL usage among US companies has increased, but not in line with expectations given the SEC mandate. Some results of a national survey of US CFOs include:Does your company currently report financial results using eXtensible Business Reporting Language (XBRL)?
National Survey of US CFOs
TRY XBRL
This is an interesting site I found that is presented by EDGAR online. It is a public portal that focuses on getting you up to speed on interactive data and complying with the SEC’s new mandate that companies file financial statements in the XBRL format. The site gives access to XBRL-tagged financials from over 12,000 US filers. This site also contains a lot of useful information for people just getting acquainted with XBRL, and for those who want to learn more.http://www.tryxbrl.com/
Preparing for the XBRL Mandate
The U.S. SEC wants companies that file using U.S. Generally Accepted Accounting Principles and have a worldwide public float over $5 billion to provide XBRL-formatted financial statements — 10-Ks, 10-Qs, etc. — beginning with fiscal periods ending December 15, 2008. The remaining companies using U.S. GAAP will be phased into the XBRL program over the following two years. The following is article that discusses how companies can prepare for this. Preparing for the MandateXBRL US Invites Participation in Public Review of US GAAP Data Tags Release 2009http:www.marketwatch.com/news/story/XBRL-US-Invites-Participation-Public/story.aspx?guid=%7B075A233C-6229-4926-B317-CDEF0380432B%7D
UBmatrix Formalizes Developer Program Amid Strong Interest in Standardizing on XBRL
http://www.ubmatrix.com/news/pr_101608_b.htmUBmatrix, Inc., the leading provider of XBRL information exchange solutions, announced today that it is formalizing a Developer Program to give System Integrators and Independent Software Vendors (ISV) access to its XBRL software for use in their solutions and services. To read more of this article, click on the link above.
HOW CHINA MOVED SO QUICKLY
In part, China was able to move so quickly because companies didn’t actually switch to XBRL reporting. They continued to fill out the same forms they always used, while behind-the-scenes software translated line items into XBRL data. This method of implementing XBRL allowed China’s capital market to quickly adapt to the new information standard—with no cost of compliance for reporting companies.-Article regarding XBRL adaptation around the world with an emphasis on the growing chinese market from the reputable Journal of Accountancy.
http://www.journalofaccountancy.com/Issues/2008/Oct/XBRLAroundTheWorld.htm
SEC plans XBRL standard to liberate financial data
http://news.cnet.com/8301-13578_3-10068446-38.htmlNews releases XBRL
IFRS and XBRL Conversion Opens Door for Internal Auditors
Deloitte Selected By IIA To "Bridge The GAAP" By Offering IFRS And XBRL Training
XBRL Still Has It's Doubters:
http://www.linuxinsider.com/story/XBRL-An-Agent-of-Financial-Reform-65038.htmlhttp://raasconsulting.blogspot.com/2011/05/assurance-over-xbrl-potential-cost-for.html
This is actually an interesting read considering it is from a firm that's business model is helping companies meet the xbrl filing requirements.
LATEST NEWS (last updated 04/08/2008) The Global Ledger for Financial Services
http://www.allbusiness.com/banking-finance/banking-finance-overview/8925639-1.htmlUsing
Merrill Reports Complete will help companies concentrate on their core businesses, confident that they are compliant with Sarbanes-Oxley requirements and ready today to produce in the mandatory XBRL reporting format, which becomes effective Jan. 1, 2011.SEC Mandates XBRL filing by end of 2008 for largest companies and phase in for remaining over 2 years:
Merrill Corporation Launches Web-Based Financial Reporting Solution
http://xml.sys-con.com/node/1036763 Using Merrill Reports Complete// will help companies concentrate on their core businesses, confident that they are compliant with Sarbanes-Oxley requirements and ready today to produce in the mandatory XBRL reporting format, which becomes effective Jan. 1, 2011.XBRL US Announces Annual Conference, XBRL Financial Reporting: Advancing Transparency, Transforming the Dialogue, in New York City November 17-18, 2009
XBRL US, the nonprofit consortium for XML business reporting, announced that it will hold its annual conference on November 17-18, 2009 at the Marriott Marquis in New York City with a focus on improving communication between public companies and investors through data and technology standards."This conference comes at a time when hundreds of public companies have begun complying with an SEC mandate for XBRL reporting that starts this summer," said Taylor Hawes, CFO Intellectual Property & Licensing, Microsoft Corporation, and Chair, XBRL US Conference Advisory Committee. "This program will educate company representatives as well as investors and analysts on how to create and analyze XBRL data, the convergence of accounting standards, and most importantly, what lies ahead for public companies with XBRL data."
http://sev.prnewswire.com/computer-electronics/20090622/NY3504122062009-1.html
Is IT ready for the XBRL mandate?
Why XBRL is Good
XBRL: Agent of Financial Reform
XBRL and International Accounting Standards Update
XBRL International
How XML is Changing Business and Why You Need to KnowSEC Releases XBRL Tool to Compare Mutual Funds.
The Securities and Exchange Commission (SEC) announced the release of the "Mutual Fund Reader," an online tool to analyze interactive data provided by mutual funds in electronic filings with the SEC. This tool is based on eXtensible Business Reporting Language (XBRL), a computer software language that labels companies' financial and other data so that investors and analysts can more easily find what they're looking for, and use the information for comparisons and analysis. Mutual Fund Reader provides information about specific mutual funds, including a fund's cost, risk, investment objectives, and historical performance.
A copy of a press release announcing the release of the Mutual Fund Reader is available at:
http://www.sec.gov/news/press /2008/2008-55.htm
Access to the Mutual Fund Reader is available at:
http://a.viewerprototype1.com /viewer
Scheduled Meetings and Events
AcSEC Meeting Minutes Published. The AICPA's Accounting Standards Executive Committee (AcSEC) has published minutes from its most recent meeting held on March 18-19, 2008. Items or topics discussed at the meeting include:
-Health Care Guide;
-Property and Liability Insurance Guide;
-FASB Preliminary Views, Financial Instruments with Characteristics of Equity;
-Airline Guide;
-Not-for-Profit Guide;
-Casino Guide; and
-Chair's Report.
A copy of the March 18-19, 2008 AcSEC meeting minutes are available at:
http://www.aicpa.org/download /acctstd/0308hi.pdf
AcSEC's next meeting is scheduled for May 13-14, 2008 in New York.
XBRL and CPAs:
I was looking through these articles about banking and was wondering as a CPA how XBRl would help or affect me personally. Here are some articles I found interesting for those of us becoming CPAs.
http://www.journalofaccountancy.com/Issues/2005/Mar/XbrlAndDataStandardizationTransformingTheWayCpasWork.htm
http://tomhoodcpa.typepad.com/cpa_island/2008/07/xbrl-and-the-in.html
http://findarticles.com/p/articles/mi_qa5346/is_/ai_n21463960 This article is How XBRL will change your practice and discusses all the changes XBRL can bring to the practice of a CPA.
XBRL and Analysts: This is a KPMG Article on XBRL and Analysts:
http://www.kpmg.com/Global/WhatWeDo/Audit/Pages/analysts.aspx
XBRL and Banking:For anyone who works in banking like myself, these articles may prove interesting. I work at a small local bank that uses xml and xbrl for remote deposit. Instead of moving paper checks around, customers scan them and send a batch file to the bank. The batch file relies on xml code to transfer the correct financial information. Some of these articles are relatively old but it does show how xbrl has evolved over the past six years:
www.bportugal.pt/events/**xbrl**/**XBRL**%20for%20**banking**.pdf - This is an interesting presentation about introducing XBRL to the banking world.
http://www.informationweek.com/news/showArticle.jhtml;jsessionid=XXGHZB40DJC12QSNDLPSKH0CJUNN2JVN?articleID=163100653&_requestid=939648
http://www.informationweek.com/news/management/showArticle.jhtml;jsessionid=XXGHZB40DJC12QSNDLPSKH0CJUNN2JVN?articleID=188500573&_requestid=939822
http://money.aol.com/news/articles/_a/media-advisory-representatives-from-the/n20080415153009990039 Breaking News
XBRL BLOG
This cite contains “XBRL Glossary” where you can find explanations of the most important terms related to the XBRL standard.
Making the Case for Inline XBRL:
This article describes a shift towards inline XBRL from the current generation of XBRL with only instance documents.
http://www.webcpa.com/news/Making-Case-Inline-XBRL-51041-1.html
The following is the link where inline XBRL is currently undergoing testing for implementation in the future.
http://sourceforge.net/projects/inlinexbrl/
For more information on Inline XBRL visit the following site:
http://www.xbrl.org/Specification/inlineXBRL/CR-2008-06-30/inlineXBRL-CR-2008-06-30.html
Cost of Implementing XBRL for Tax Filings
The article describes the actual cost corporations will have to incur if they have fill out their Tax filings using XBRL.
http://www.accountancyage.com/accountancyage/news/2246163/xbrl-filing-requirement-cost
Merill Lynch Launches Web-Based Financial Reporting Solutions
The following story references the new product launched by Merill Lynch which will help its mutual fund customers create financial documents in compliance with XBRL and Sarbanes-Oxley disclosures.
http://xml.sys-con.com/node/1036763
Adobe to Deliver XBRL Solution
PDF: http://www.adobe.com/financial/pdfs/xbrl_wp.pdfHTML: http://docs.google.com/viewer?a=v&q=cache:qK88qmP3RNcJ:www.adobe.com/financial/pdfs/xbrl_wp.pdf+xbrl&hl=en&gl=us&pid=bl&srcid=ADGEESgaXukARAscHhw9JZxY85EbgfvV9aJSa0JYuFlhAkLu7JWXeHRJ8_mupvbL-hIZ9u8hQiJ0_ekECLiPFexBl9jKrJdyk-j5afJhA4jOYidwdqW0KVczwhcn46OVtedArPNCBBEd&sig=AHIEtbTKbudSs1QIbRKbgpPumbKzziwsLg
XBRL U.S. Offers Tools to Improve Data Quality
http://www.webcpa.com/news/XBRL-US-Offers-Tools-Improve-Data-Quality-53774-1.html
Project will advance XBRL taxonomy maintenance and publishing best practices
This article discusses the three-year agreement the US Labs and the Financial Accounting Foundation made to increase the cooperative XBRL taxonomy research.http://www.prnewswire.com/news-releases/faffasb-and-xbrl-us-labs-announce-research-initiative-91918519.html
Free Solution for First-Time XBRL Filers
Cloud-based corporate performance management service provider Host Analytics and Extensible Business Reporting Language software developer NeoClarus have released a free product to help first-time corporate XBRL filers comply with Securities and Exchange Commission regulations. This year, approximately 8,000 companies, many of them small businesses with few resources, are required by law to file XBRL formatted financials for the first time.
International XBRL News (May 2011)
The government of India hopes to improve surveillance of companies through the introduction of a new financial reporting format that will make data accessible to all regulators and watchdog companies.View Article Here
XBRL Continues Global Expansion as Standard for Business Reporting Transparency and Process Improvement.
View Article HereOTHER NEWS
- Latest News on XBRL - taken from XBRL International website: http://www.xbrl.org/LatestNews/
- AICPA resources on XBRL - http://thecaq.aicpa.org/Resources/XBRL/
- XBRL Articles of Interest & Useful Tools (AICPA) - http://thecaq.aicpa.org/Resources/XBRL/XBRL+Articles+of+Interest+and+Useful+Tools.htm
- Spotlight on Tagged Data and XBRL Initiatives for EDGAR Filings (SEC) - http://www.sec.gov/spotlight/xbrl.shtml
- XBRL Educational Resource Center at Bryant University - http://www.xbrleducation.com/
- Read how Microsoft used XBRL to file with the SEC: http://www.microsoft.com/presspass/features/2005/feb05/02-07XBRL.mspx
- XBRL for Financial Statements - Questions and Answers: http://www.accountingweb.com/cgi-bin/item.cgi?id=15900&d=101&h=0&f=0&dateformat=%25o%20%25B%20%25Y
- Feedback on the XBRL US GAAP taxonomies and preparers guide: http://xbrl.us/USGAAPreview/pages/feedback.aspx
- For those interested, a comprehensive timeline on the history of XBRL: http://www.xbrl.org/history-print.aspx
- XBRL International has produced a number of case studies to describe how important organizations have made use of XBRL: http://www.xbrl.org/CaseStudies/
- For anyone interested there are demos listed that show XBRL in action actually very interesting and helpful: http://www.xbrl.org/Demos/
- A Blog about technology and XBRL: http://blog.technologyevaluation.com/blog/2008/12/05/the-move-to-ifrs-and-xbrl/
- Interesting--an entire blog website devoted to XBRL: http://xbrlblog.com/
- A link to Business week which had many interesting articles on XBRL and the media discussing it XBRL Business Week Link
- A link to many XBRL topics and articles on information and technology http://gilbane.com/news/xbrl/
- Article speaking about the governments use of XBRL to increase transparency http://www.cmswire.com/cms/enterprise-cms/improving-access-to-government-data-on-the-web-005510.php
- Article talks about how XBRL can maximize speed and accuracy as information moves between organizations. http://www.journalofaccountancy.com/Issues/2005/Mar/XbrlAndDataStandardizationTransformingTheWayCpasWork.htm
- Article talks about the use of XBRL for Publicly Available Information: XBRL Publicly Available Information
- Article talks about the advantages and disadvantges of XBRL. http://xbrlusa.wordpress.com/2010/05/03/the-ups-and-downs-of-xbrl/
- XBRL-TRANSPARENCY-Ralph Frank article on XBRL transparencyXWhat Should the Audit Committee Consider?
- SEC Choses Fujitsu to provide XBRL Solution - http://solutions.us.fujitsu.com/www/content/news/newsdetail.php?nf=10674285.nitf
- Is there real value in combining XBRL and BPM? SEC thinks so - http://blog.interstagebpm.com/2010/10/18/is-there-real-value-in-combining-xbrl-and-bpm-sec-thinks-so/
- XBRL INTERNATIONAL launches abstract modeling group to create blueprint for XBRL software http://www.xbrl.org/PressReleases/2010/XII_Abstract_Modeling_Group_2010-10-20.pdf
- FINANCIAL SUPERVISION REPORTING AND XBRL: Benefits of adopting XBRL for financial supervision reportinghttp://www.xbrl.org/LatestNews/
- Financial Accounting Foundation to Maintain XBRL Taxonomy for U.S. GAAP http://www.xbrl.org/LatestNews/
- XBRL FAQs http://www.xbrl.org/faq.aspx
- XBRL, Market to thrive ? http://www.fiercecomplianceit.com/story/xbrl-market-thrive-ibms-deal-clarity-builds-momentum/2010-10-31
- XBRL US Launches Program to Expand Adoption in U.S. Markets http://xbrl.us/News/Pages/20101109.aspx
- Crossfire Compliance for Mutual Funds in XBRL format http://bx.businessweek.com/xbrl/view?url=http%3A%2F%2Fc.moreover.com%2Fclick%2Fhere.pl%3Fr3733950438%26f%3D9791
- Indian exchange authority eyes XBRL standard http://www.edgar-online.com/IndustryNews/tabid/288/EntryId/263/Indian-exchange-authority-eyes-XBRL-standard.aspx
- IFRS Foundation enhances stakeholder representation in IFRS XBRL advisory committees http://www.ifrs.org/News/XBRL/IFRS+XBRL+2011+advisory+committee+appointments.htm
- MetaMoJi Receives HMRC Recognition for its iXBRL-Compliant MashIQ Financial Reporting Solution http://finance.yahoo.com/news/MetaMoJi-Receives-HMRC-prnews-208215827.html?x=0&.v=1
- EDGAR Online Updates Proxy Information http://finance.yahoo.com/news/EDGAR-Online-Updates-Proxy-prnews-2581812084.html?x=0&.v=1
- Ez-XBRL Solutions Helps Mutual Fund Companies Meet Global XBRL Compliance Requirements Through Its Integrated XBRL Data Conversion Platform http://www.businesswire.com/news/home/20101122006233/en/Ez-XBRL-Solutions-Helps-Mutual-Fund-Companies-Meet
- Public Companies, Law Firms & Investment Banks Move Toward XBRL Tagging http://finance.yahoo.com/news/Public-Companies-Law-Firms-prnews-207679234.html?x=0&.v=1
- XBRL FOR TAX, BANKING, CORPORATE ACTIONS AND CAPITAL MARKETS EXPANDING GLOBALLY http://www.xbrl.org/Home/XBRL%20Expanding%20Globally%20FINAL%20Release%2009Nov10.pdf
- 2010 IFRS Taxonomy Guide http://www.iasb.org/NR/rdonlyres/38EAB597-A726-4A74-91EC-EEEF29BBE8A6/0/ITG201020100702.pdf
- XBRL-GL http://finance.groups.yahoo.com/group/xbrl-gl-public/
- Dr. Graham G. Rong is developing a software that will transform XBRL into OWL language to use with social networking such as facebook, twitter, or other more frequently used forms. http://semanticweb.com/consuming-xbrl-financial-information-semantic-web-prototype-app-aims-to-make-it-easier-faster-automatic-and-socially-connected_b693
- IRIS, UK’s largest privately-held software company, Accountancy Practice Solutions Announces Immediate Availability of iXBRL-ready IRIS Accounts Production http://newsblaze.com/story/2010112406012600001.we/topstory.html
- Test your iXBRL readiness with CCH tool http://www.accountingweb.co.uk/topic/tax/test-your-ixbrl-readiness-cch-tool/440465
- In the UK, SimplyXBRL launches CharityiXBRL, a heavily discounted iXBRL tagging service for incorporated charities http://www.simplyxbrl.com/about/latest-news/simplyxbrl-launches-charityixbrl,-a-heavily-discounted-ixbrl-tagging-service-for-incorporated-charities.aspx
- Article on avoiding the common errors associated with XBRL implementation http://www.journalofaccountancy.com/Issues/2010/Feb/20092058.htm
- Are you ready for iXBRL? http://www.eadt.co.uk/business/are_you_ready_for_ixbrl_1_733717
- Trintech Announces Participation at iXBRL and Financial Close Management Conference http://www.marketwatch.com/story/trintech-announces-participation-at-ixbrl-and-financial-close-management-conference-2010-09-20
- XBRL or Customized XML? http://www.xbrl.org/LatestNews/
- Brix brings first XBRL app to the Iphone http://xbrl.squarespace.com/journal/2010/8/21/first-xbrl-iphone-application.html
- XBRL: What Should the Audit Committee Consider? http://www.aicpa.org/ForThePublic/AuditCommitteeEffectiveness/GuidanceandResources/DownloadableDocuments/XBRL-QA-final_Audit_Committee.pdf
- XBRL International Begins Roll-out of XBRL Abstract Modelling Initiative with Webinar Series http://www.businesswire.com/news/home/20101201006324/en/XBRL-International-Begins-Roll-out-XBRL-Abstract-Modelling
- Latest on XBRL and its implementation in US and abroad http://www.ft.com/cms/s/0/f17c6ada-01b9-11e0-9c3e-00144feab49a.html#axzz17e304GCE
51. Powerful XBRL Tools http://www.altova.com/download-xbrl-tools.html52. XBRL Innovation http://ubmatrix.edgar-online.com/company/innovation.htm
53. Webinar: XBRL a how to Guide http://www.fujitsu.com/global/services/software/interstage/download/xbrl-enabling-solutions-2009Nov.html?WT.ac=Global_INTSTG_xbrl_enabling_solutions_2009Nov_sh
54. XBRL US announces National Conference for 2011 to be held in Nashville Tennessee: http://bx.businessweek.com/xbrl/view?url=http%3A%2F%2Fc.moreover.com%2Fclick%2Fhere.pl%3Fr4507684390%26f%3D9791
55. XBRL Jobs!! http://bx.businessweek.com/xbrl/jobs/
56. Will Another Crisis and XBRL Let Japan Gain Economic Advantage? http://www.huffingtonpost.com/w-david-stephenson/japan-economy_b_845435.html
57. FASB launches new taxonomy online review and comment system http://www.businesswire.com/news/home/20110614006573/en/FASB-Launches-Taxonomy-Online-Review-Comment-System
58. Filing of the Balance Sheet and Profit and Loss in XBRL Article from June 11, 2011:
http://www.caclubindia.com/articles/filing-of-balance-sheet-and-profit-and-loss-account-in-xbrl--10053.asp
59. Latest XBRL news: June 15, 2011 deadline. raas-xbrl, 2011 XBRL Buyer's Guide. (raas webpage...possibly biased)
http://raasconsulting.blogspot.com/2011/06/2011-xbrl-buyers-guide-r21.html
60. Free XBRL training: Altova software (From Twitter feed at top of page)
http://www.altova.com/aot/online-training.aspx
61. FASB adds "Taxonomy Online Review and Comment System" for US GAAP XBRL taxonomy.
XBRL Users Get New Functionality in Taxonomy
62. I like this site for XBRL related articles. I found it this week and it's like a Wiki where people can post articles for that topic and get feedback.
http://bx.businessweek.com/xbrl/news/
63. XBRL US supports Digital Accountability and Transparency Act (DATA) which would require government reporting entities to submit information using common standard data.
http://accountingeducation.com/index.cfm?page=newsdetails&id=151606
64. This article reflects the shift towards electronic information delivery specifically the disclosure of sustainability data.
http://www.environmentalleader.com/2011/06/29/gri-and-deloitte-to-create-xbrl-taxonomy-alcoa-shell-among-g4-sponsors/**
65. This page was helpful when I kept getting an unexplained math error while writing a .xsl file.
http://www.xml.com/pub/a/2001/05/07/xsltmath.html
The site also has excellent tutorial sections here's one for XSLT, figure 2-4 is very helpful in explaining stylesheet declaration.
http://www.xml.com/pub/a/2000/08/holman/index.html?page=7#expl-ss
66.This editorial deals with how to avoid costly mistakes when creating XBRL documents. It highlights many of the common errors that are prevalent when dealing with implementing XBRL. Some of the common errors include incorrect mapping and tagging. It also deals with using validation software, which can detect many of the mistakes made by the user. http://www.journalofaccountancy.com/Issues/2010/Feb/20092058.htm
67.I thought this article presented a fantastic discussion on the benefits of implementing XBRL and what it can provide from a business and data transferring perspective. The article also deals with simple tagging and using taxonomies when creating a XBRL document. http://www.silicon.com/management/ceo-essentials/2010/02/05/cheat-sheet-xbrl-39745428/3/
68.This is a link to an XBRL discussion forum that I thought was interesting and had a lot of detailed explanations concerning XBRL. Also most of the information that was posted on these boards was done by professionals actually working with the language in real life scenarios. http://www.xbrl.talk2experts.com/forums/
69.This is a link to a video that explained in detail why people actually use XBRL and how it affects businesses both domestic and international. The video explains the language in a simple and concise way that was both comical and informative. http://www.encyclopedia.com/video/5F1E-2LkhW8-xbrl-in-plain-english.aspx
70. GRI and Deloitte to Create XBRL Taxonomy; Alcoa, Shell Among G4 Sponsors - This is a link to an interesting article demonstrating the future of XBRL as it relates to some companies.
http://www.environmentalleader.com/2011/06/29/gri-and-deloitte-to-create-xbrl-taxonomy-alcoa-shell-among-g4-sponsors/71. Cheat Sheet:XBRL For Dummies
High-Level Components of XBRL and Their Definitions
I've listed the link to this Cheat Sheet: XBRL Definitions site below. It give a pretty good snap shot of xbrl and definition of terms for one to look at on the fly.
http://www.dummies.com/how-to/content/xbrl-for-dummies-cheat-sheet.navId-380721.html?print=true
72. Here is a link to a short podcast talking about XBRL phase 3 implementaion for small companies.
Inside Track with Broc
73. Here is a link to an article about some XBRL developments in India in 2011 XBRL Developments in India 2011
74. Here is a link to an article about an XBRL gadget that allows users to quickly analyze large amounts of company-reported data by the SIC code, across different periods, and using different concepts such as assets or revenues: XBRL Gadget and here is the link to the actual gadget site: The Gadget
75. At work this week we were discussing XBRL taxonomies and a cowoker forwarded a link a taxonomy launched early last month to address corporate actions.
I found this very interesting because it's another way XBRL is providing consumers with more consistent data.
http://www.fiercecomplianceit.com/press-releases/xbrl-us-launches-xbrl-corporate-actions-taxonomy
76. Article regarding recent developments in XBRL with respect to Spain
http://hitachidatainteractive.com/2011/02/09/xbrl-developments-in-spain-2011/
77. Here is a detailed history of XBRL
http://www.xbrl.org/history.aspx
78. GRI and Deloitte are developing a new taxonomy which should be published in 2013. Deloitte will be the pilot user.
http://www.environmentalleader.com/2011/06/29/gri-and-deloitte-to-create-xbrl-taxonomy-alcoa-shell-among-g4-sponsors/
79.XBRL group offers $20,000 cash prize for open source tools:
http://www.pcworld.com/businesscenter/article/235435/xbrl_group_offers_cash_prize_for_opensource_tools.html
80. This article gives an overview of SEC Staff assessments on 2011 XBRL submissions.
SEC Staff Assess Early 2011 XBRL Submissions, Offer Suggestions for Improvements
This is the link to the actual SEC website report.
Actual SEC Staff Report
81. For anybody interested in COBIT (part of the new material for fall), Becker just released a good summary...
http://www.becker.com/accounting/cpaexamreview/students/2011%20BEC%20Update%20AICPA%20CSO-SSO%20Reference%20Changes.pdf
The COBIT section begins on pg 10 and all of this material will be added to Becker's CPA review for BEC starting in 2012.
82. The Ministry of Corporate Affairs India has partially modified its order on the filiing of the Balance Sheet and P&L in XBRL.
http://abclive.in/business/business/732-mca-order-on-xbrl-reporting-.html
83. Here is the editorial that was concerned with the SEC adopting of XBRL for financial reporting. The article discusses details of the adoption and exactly how it will affect businesses and shareholders. It has some strong insight on why exactly the SEC felt XBRL was best for financial reporting..
http://www.wsgr.com/wsgr/Display.aspx?SectionName=publications/PDFSearch/clientalert_XBRL.htm
84. Rivet Software releases Crossfire 4.1. "Crossfire enables users to process and manage reports by leveraging the power of the data standard XBRL."
http://www.businesswire.com/news/home/20110713006000/en/Rivet-Software-Releases-Crossfire-4.1